Sinclair renews push for Scripps merger amid board rejection

Sinclair filed letters with the Securities and Exchange Commission documenting its recent exchange with The E.W. Scripps Company regarding a proposed acquisition. In the filing, Sinclair reiterated its willingness to pursue a combination with Scripps, despite the latter’s rejection of its offer.

“Over the last few weeks, Sinclair has continued to reinforce to Scripps its willingness to engage on a proposed Sinclair-Scripps combination,” Sinclair wrote in a statement issued Jan. 16, 2026. “We believe this proposal is attractive to Scripps’ shareholders and, at a minimum, is worthy of engagement… Our Board and management team are committed to unlocking the full potential of both businesses and driving continued value creation for all Sinclair shareholders.”

The offer, submitted Nov. 24, proposed to acquire all outstanding shares of Scripps that Sinclair does not already own for $7 per share in a combination of cash and stock. Scripps’ board of directors unanimously rejected the proposal and implemented a shareholder rights plan, commonly known as a poison pill, shortly afterward.

Sinclair’s unsolicited bid for Scripps unanimously declined by board

Sinclair stated that its proposal represented a premium of more than 240 percent over Scripps’ unadjusted share price. The cash component alone represented a 32.7 percent premium, according to the company. Sinclair said it believes the proposal is attractive and deserves engagement from Scripps.

“Scripps has refused the invitations to speak with its single largest shareholder and instead has stated its preference to execute its standalone plan,” wrote Sinclair.

Scripps responded on Dec. 16, stating that its board had reviewed the proposal with its financial and legal advisors and concluded that the offer was not in the best interests of shareholders.

“After careful consideration, Scripps’ board determined that Sinclair’s unsolicited acquisition proposal is not in the best interests of Scripps and its shareholders,” said Kim Williams, chair of the board.

Williams added that while the board rejected the offer, it remained open to evaluating any proposal that would enhance shareholder value.

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Scripps has retained Morgan Stanley & Co. as its financial advisor and Weil, Gotshal & Manges LLP as legal counsel. Sinclair said it will continue a previously announced strategic review of its broadcast business, including a planned separation of its Ventures segment.

The E.W. Scripps Company operates more than 60 television stations in over 40 markets and owns national networks including Scripps News, Court TV and ION. The company also holds the largest broadcast spectrum portfolio in the U.S. and operates Scripps Sports.